The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys equity securities as noncurrent investments. None of Ornamentals investments are large enough to exert significant influence on the investee. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired Distribution Transformers Corporation common stock for $400,000. Sep. 1 Acquired $900,000 of American Instruments' common stock. Sep. 30 Received a $16,000 dividend on the Distribution Transformers common stock. Oct. 2 Sold the Distribution Transformers common stock for $425,000. Nov. 1 Purchased $1,400,000 of M&D Corporation common stock. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments common stock M&D Corporation common stock $ 850,000 $1,460,000 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. View transaction list View journal entry worksheet Credit Date General Journal March 31, 2021 Investment in equity securities Cash Debit 400,000 1 400,000 2 September 01, 2021 Investment in equity securities 900,000 Cash 900,000 16,000 September 30, le-h. Cash 2021 Dividend revenue 16,000 4 25,000 October 02, 2021 Fair value adjustment Gain on investments (unrealized, NI) 25,000 5 425,000 October 02, 2021 Cash Investment in equity securities Fair value adjustment 400,000 25,000 November 01, 2021 Investment in equity securities 1,400,000 Cash 1,400,000 December 31, 2021 10,000 Fair value adjustment Gain on investments (unrealized, NI) 10,000 Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. $ 16,000 35,000 51,000 $ Income statement: Dividend revenue Gain on investments Net income Statement of comprehensive income: Net income Other comprehensive income Comprehensive income Balance sheet: 51,000 $ $ $ 51,000 Assets Cash $ 0 Noncurrent Assets $ 2,300,000 10,000 $ 2,310,000 Shareholders' Equity Retained earnings $ 51,000